Credit Suisse Group said Thursday that first-quarter net profit rose 5%, on healthy fixed-income results at its investment bank and lower costs, as it voiced confidence in its outlook.

The Zurich-based bank said net profit for the three months to March 31 rose to 2.1 billion Swiss francs ($1.96 billion), from two billion francs a year earlier. The result beat analyst estimates, which averaged 2.06 billion francs in a Dow Jones Newswires poll.

Credit Suisse said the second quarter had begun in a similar fashion as the first quarter.

"We are confident that our business model will enable us to continue to generate high-quality results in good as well as in more challenging market conditions," Credit Suisse Chief Executive Brady Dougan said in a statement.

The healthy earnings at Credit Suisse, the first of Europe's major investment banks to report the quarter, echoed Wall Street rivals such as J.P. Morgan Chase & Co. Frankfurt-based rival Deutsche Bank reports its quarterly results on Tuesday, and British bank Barclays PLC will issue an interim statement next Thursday.

At Credit Suisse's private bank, net new money totaled 26 billion francs, showing that the private bank is still attracting new business despite continuing pressure on Swiss bank secrecy. The private-banking arm won 18.6 billion francs in fresh assets.